Spotlight

Indian equity markets are expected to trade on a steady note, supported by favourable global cues and continued stability in commodity prices.
 
The U.S.–Iran situation remains stable, with peace negotiations continuing and no major disruptions reported. The easing of geopolitical concerns has helped improve global risk sentiment and reduced fears of supply disruptions in the Middle East.
 
Crude oil prices remain subdued as oil flows through the Strait of Hormuz continue uninterrupted, while OPEC+ has indicated plans to increase supply, easing concerns over global supply disruptions. Crude continues to trade in the $68–69 per barrel range, providing a supportive backdrop for India's macroeconomic outlook by helping contain inflationary pressures.
 
Global technology sentiment has also improved, with investors closely watching Samsung Electronics amid expectations that its upcoming results and AI-related developments could help restore confidence in semiconductor stocks and ease recent volatility across the global technology sector.

Technical view 

Nifty 50

Nifty 50 continues to maintain a constructive technical structure, reflecting sustained buying interest and a positive underlying trend. From a technical perspective, the 24,400 region continues to act as the immediate resistance zone. A sustained breakout above this level would reinforce bullish momentum and could pave the way for an advance towards the 24,500–24,600 region.
 
On the downside, the 24,200 level is expected to provide immediate support, followed by the 24,000 psychological mark, which remains a crucial support zone. Momentum indicators also remain supportive, with the Relative Strength Index (RSI) hovering near the 61 mark, indicating strengthening bullish momentum while remaining comfortably below overbought territory. Overall, the near-term technical outlook remains positive, with a sustained move above the 24,400 resistance zone required to confirm the next leg of the ongoing recovery.

Bank Nifty 

Bank Nifty continues to trade with a cautious undertone, although the broader bullish structure remains intact. From a technical perspective, the 58,200–58,300 zone continues to act as the immediate resistance area. A sustained move above this region would reinforce bullish momentum and could extend the recovery towards the 58,600–58,700 zone.
 
On the downside, a sustained break below 58,000 mark could trigger fresh profit booking and drag the index towards the 57,600–57,500 support zone. Holding above these levels will be essential to preserve the prevailing positive structure. Overall, the near-term technical outlook remains cautious, while the broader trend continues to favour the bulls, reclaiming and sustaining above the 58,000 psychological mark, followed by a decisive move above the 58,200–58,300 resistance zone, will be essential to strengthen bullish momentum and confirm the continuation of the ongoing recovery.